This week I have a eye on 80.50 for price to reach.
We have closed in the weekly fvg and now lying within a Daily FVG and Daily V.i
The Daily V.i is important to reference as Monday we can trade higher into this.
So as in my previous forecast we have now closed daily bellow the Weekly FVG
My next target will be 80.50 by end of week.
Thats it for this week.... :)
Which market is a better hedge when a geopolitical conflict started. I know many will say that it must be crude oil. Over the past 2 major conflicts, we could see that crude oil did not gain any momentum, in fact it came off.
So which markets have reacted positively to all these tensions so far, and will continue to remain this way with future tensions?
My...
Bullish.
After forming a new peak high,
price retraced to the +FVG.
Friday's "news wick" tapped the
-FVG above and quick returned
the +FVG. Should the +FVG hold,
expecting price to move toward
the highs, as price moves from
Internal -> External liquidity.
The LRLR to the lower left is a
draw on LQ that bears watching.
I enjoy any feedback or questions in...
NYMEX:CL1!
“If my mind can conceive it and my heart can believe it - then I can achieve it.” - Muhammad Ali
HOUSE CALL for a potential SHORT this week.....This is simple what I'll be looking for!
1) On the Daily TF we have a HUGE rejection Candle at the Daily Resistance leave $84.00 Per Barrell and now Price is currently trading above this Daily Demand Zone...
81.81-82.30 can play pivotal role for the next movement, if trade above, then 85.25 could be its target zone and if trade below, then oil can reach 78.81
Technical Momentum Weakens
Crude Oil futures have stalled after rising in 2024 after trading at the upper price band of $88/barrel and lower price band of $84/barrel. The technical perspective shows momentum studies correcting from overbought territories, with the 9-day moving average stalling above 18-day. DMI + is narrowing in on DMI -, indicating that the...
And we are back into the dancing area. Of course the price went up because the news of the war, let's see tomorrow how the prices will dance, if in their "safety area" between 84.01 for longs and 87.60 for shorts... or will be up following Arabia Saudita wishes on 100
Crude oil stabilized this week around $84 per barrel on the May 2024 contract, from which we are seeing some nice rebounds after recent events between Iran and Israel. There is a risk that this escalation will not be over anytime soon, so energy prices may remain in an uptrend, possibly heading for a higher fifth wave back above last week's highs. If the market...
Daily Bearish
Stay Bearish bias until 1hr -OB is closed above with a displacement candle @ 83.25
In this chart I am illustrating why IMO, this is a High resistance Liquidity run and not LRLR.
The Price in the circle is Balanced, so for price to cut through this with ease is difficult all be it we have a signature LRLR bellow.
So if a bearish setup appears don't...
Nobody knows the future so I just track parameters using Elliott Wave and also s/d zones. Let's see where support holds and I'll be watching for an impulse higher to signal the bottom is in. Otherwise, if we break 83 with feeling, then I'll watch 82 and 80.70 for support levels. If all of those break, then any meaningful rally is delayed for weeks or more. All imo...
These levels provide guidance for traders interested in trading Crude Oil MCX Futures in May, offering specific entry points, target prices, and stop-loss levels to manage risk.
Range Point: 6,999
Intraday Range: 85 points
Buy Above: 7,011
Average At: 7,001
Buy Target 1: 7,052
Buy Target 2: 7,084
Buyer Stoploss: 6,982
Sale Below: 6,990
Sale Target 1: 6,946
Sale...
Price has invalidated my original short idea, which is great.
Currently holding HTF PD Arrays
2 scenarios
we continue higher off the 1h huge imbalance which I am not comfortable getting into right now
We dig into the BPR printed on Thursday, which is much more favorable
wti crude oil
comment: Market is making marginally higher highs on the 1h tf but it’s a reasonable triangle we are in. I think it will chop some more inside before another breakout and I think that will be news related/event driven.
current market cycle: trading range
key levels: 80-86 but converges inside 82-84
bull case: Bull legs inside the range...
So we are on the Daily Not moving with much drive and lets say... obvious direction when it comes to day to day bias (Overall Bearish)
I am ONLY focusing on PDH and PDL as targets today with any signal to buy or sell into the market being in a discount before I place a trade.
Range day - yes
To consider that Thursday's have seen good movement on Oil recently so...
Backtesting that Daily trend line with a few top dots on this 4hr chart. Good posture to dump some points here so they can reload lower. Big money always wins, and they almost always come back for that liquidity.
